Accounting policy

Strategic goal of the EPSO-G group is, by effective operation, to ensure the continuous supply of energy and to enable market participants to freely exchange it. In pursuit of these goals, the group companies maintain an open, honest and constructive dialogue with the stakeholders and regularly provide financial and non-financial performance reports.

To ensure that stakeholders can assess the performance and prospects of the group companies and to make appropriate economic decisions, the financial statements are prepared in accordance with EPSO-G’s accounting policy which establishes uniform principles, methods and requirements for the accounting of the group ,for the drafting and submitting of financial statements.

Key provisions of EPSO-G’s accounting policy:

• information shall be unbiased, comparable and useful for internal and external stakeholders;
• information shall be reliable, relevant, timely and understandable;
• accounting is carried out on the basis of the Law on Accounting, Law on Financial Statements of Entities and Law on Consolidated Financial Statements of Groups of Entities of the Republic of Lithuania, as well as other regulatory legislation regulating accounting procedures; 
• the accounting is carried out and financial statements are drawn and submitted in accordance with applicable International Financial Reporting Standards and interpretations approved by the International Financial Reporting Interpretations Committee, that are approved for application in the European Union.
  
  Detailed information on the accounting policies of EPSO-G group companies is provided in the published financial statements.

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